TORONTO, ONTARIO -- (Marketwire) -- 01/26/13 -- As the March 1st deadline approaches to contribute to a Registered Retirement Savings Plan (RRSP), BMO reminds Canadians to take their age, anticipated life goals and milestones into consideration when developing their investment strategies.

According to a study by BMO Financial Group:

-- Sixty per cent of Canadian investors have time frames or target dates in
mind to reach their financial goals.
-- Eighty-nine per cent agree that it is important to hold investments that
evolve over time to become less risky as key life events approach.
-- However, only 49 per cent currently hold investments that become less
risky over time.

"Whether retirement is many years away, just around the corner or already here, there are strategies investors can implement now to make the most of their money," said Steven Shepherd, Vice President, Investment Strategist, BMO Asset Management Inc. "By making wise choices and reviewing their financial plan regularly, investors of all ages and stages can ensure they are on track to reaching their retirement goals."

BMO offers the following investing strategies for each life stage:

In Your 20s - Getting That First Job:

-- Though you may be just starting off your career and cannot even imagine
retirement, it is not too early to think about establishing a long-term
financial plan.
-- With years to your advantage, consider taking a more aggressive approach
to your asset mix by diversifying with a higher mix of equities compared
to fixed income instruments or cash.
-- Pay down debt and try to save as much money as possible.

In Your 30s and 40s - Family and Big Purchases:

-- You may be getting married, raising a family, saving for a child's
education and making large purchases such as a house, car or cottage.
-- Build a relatively balanced portfolio across all asset classes. Include
a Registered Education Savings Plan (RESP) to help save for your child's
post-secondary education.
-- Set up a Continuous Savings Plan that automatically puts money into your
RRSP. Investing smaller amounts regularly is easier than coming up with
a lump sum at the end of the year, and it allows you to take advantage
of dollar cost averaging for any investments that fluctuate with the
market.
-- Some employers will match your RRSP contributions up to a maximum, so be
sure to contribute enough to take full advantage.

In Your 50s and 60s - Serious Business:

-- Retirement is on the horizon - start strengthening your retirement
savings by shifting investments from a long-term to a mid-term focus and
taking a low-risk approach.
-- Consider a conservative asset mix with a good portion of fixed income
instruments such as GICs.
-- Create a snapshot of how much you own to help you understand how your
assets could help fund your future. For instance, an RRSP can be a
source of income during retirement while other accounts can pay for a
child's education or a major purchase.
-- Pay off outstanding debts.

In Your 60s and Older - Looking at Retirement Head-On:

-- Adjust your financial plan to achieve your ideal retirement lifestyle,
whether that includes taking early retirement or an extended trip, or
launching a second career.
-- Consider income-generating investments coupled with a conservative asset
mix.
-- Maximize your RRSP contributions and consider an RRSP loan for making
catch-up contributions, as you will only be able to contribute to your
RRSP until the year you turn 71.
-- Review and update the beneficiary designations for RRSPs, Registered
Retirement Income Funds (RRIFs), TFSAs and insurance policies.

To assist Canadians in choosing investments that match their current age, life stage and risk tolerance, BMO SelectClass® Portfolios(i) come in four portfolios options designed to align with different client risk profiles. Whether an investor is conservative, bold or somewhere in between, or they are approaching key life events and want a portfolio that matches their risk level, there is a portfolio tailored to that investor. Additionally, investors can transfer money between SelectClass Portfolios in a tax efficient manner. This type of portfolio design can give investors confidence that they can be financially prepared for retirement.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the mutual fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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